October 17, 2012

Gap plans global brand structure to further growth prospects

Global specialty retailer offering clothing, accessories, and personal care products, Gap unveild a new global brand structure to further the company’s growth following a solid performance in the 2012 fiscal.

By admin-demo

Global specialty retailer offering clothing, accessories, and personal care products, Gap unveild a new global brand structure to further the company’s growth following a solid performance in the 2012 fiscal.

The retailer at the begining of 2013 intends to bring together its North American, International, Online, Outlet and Franchise divisions under a single global executive for each of its Gap, Banana Republic and Old Navy brands.

Besides, the company has also firmed up plans, to form a new Innovation and Digital Strategy team to build on the recent success in the online sales category.

Commenting on the upcoming changes Gap chairman and chief executive officer Glenn Murphy remarked that the recent strong performance has fueled the thinking behind uniting each brand together to gain a greater market share worldwide.

"The global teams will move even faster in anticipating and responding to the ever-evolving needs of customers, delivering consistently great product around the world," said Murphy.

As part of a new structure, the chain has promoted international president Steve Sunnucks to global president.

"Steve is an accomplished fashion retailer who has significantly expanded our International presence," Murphy added.

Steve is currently the international chief for the Gap brand and has held senior leadership roles at retailers such as Marks & Spencer and New Look.

At Banana Republic, Jack Calhoun, president for North America, will become global president.

Also, Art Peck, chief of Gap North America, will take over as president of the new innovation, digital strategy and new brands division while Toby Lenk, president of the online division, will leave in February, the company said.

The company, currently, operates under five brands with over 3,200 stores in 40 countries.